GRAIN AND PRODUCE.

Auckland Star, Volume LIX, Issue 239, 9 October 1928, Page 4

GRAIN AND PRODUCE.

POTATOES STILL DEAR.

BUT "PAST THE PEAK."

ONIONS UP TO 35/,

After soaring to excessive heights during the past week the potato market shows signs of easing. A few days ago Canterbury dealers were asking as high as £13 10/, f.0.b., Lyttelton. To-day tubers are being offered for shipment by the Wingatui at £12 and southern firms' agents are looking for orders at this figure. The shortage, of course, is only temporary and it is remarkable when prices are high where the potatoes come from. As one merchant put it, in unforeseen circumstances like the present, they "come from the tree tops." As was emphasised in these columns when the rumour of a "corner" was first circulated, the holder or holders have only a very limited period in which to reap the benefit of their speculation and, as is well known, the demand for old potatoes ceases very suddenly once the new season's crop becojnes available. With the approach of warm weather potatoes become almost as perishable as ripe fruit. Although there are no large holdings of potatoes in this centre most of the merchants and storekeepers have limited supplies so that no acute shortage is expected before the Wingatui arrives next week. Meanwhile local "earlies" are finding their way to the auction marts in increasing quantities. The current wholesale price of old potatoes is 15/ per cwt, but quotations, ex the Wingatui, are 14/6. Strenuous efforts were made by local and other Dominion merchants to inuuee the Government to ease the restrictions on the importation of Australian potatoes, but without effect. They refused, therefore, to Import with the risk that the tubers might be rejected on arrival. Some Wellington firms have imported and it will be interesting to see how they get on. The spurt in the potato market has given a stimulus to late seed planting and there is a definite scarcity of main varieties. Merchants hesitate to stock up at this time of year and prices have advanced £1 to £1 10/ per ton. Onions. The shortage of onions already referred to continues and prices have further advanced to 35/ per cwt, bag or crate. This is just double the price ruling at this time last year. Merchants have failed to secure additional space from Canada to augment their original orders and efforts to obtain Canadian from Australian holders have also proved resultlees. Wheat.

The wheat market is firm and southern quotations have advanced Id to per bushel. It is suggested that the understanding arrived at among the southern millers, who have decided to continue the organisation known as Distributors, Ltd., has had a stabilising effect on value% From all accounts there must be ifjundant fowl wheat ill the south, a good deal still in farmers' hands, but what with the wheat pool and their agreement with millera the growers appear to hold a strong hand in their demand for higher prices. At present the f.o.b. price at Lyttelton is 5/9 for November shipment and a penny more for December. The local wholesale price is 7/8, ex store. Lines of Canadian flour are coming to hand in fair quantities. There is usually a limited importation from Canada and it has been stimulated by the cheap freight rates now ruling. The current price is £20 per ton, compared with £18 for the local. Maize. There is no quotable alteration in the maize market. Fewer large lines are being offered from the Bay of Plenty, but enough is coming forward to satisfy requirements. Oats and Chaff. The oats market continues dull and with no prospect of export business, there seems little likelihood of improvement. The "Otago Daily Times" says: "From now on it will be difficult to secure an outlet for the fairly heavy stocks still held in the stores. Most of these belong to northern merchants, and they have recently been notified that they must remove their oats from the stores in order to make room for 'wool. These oats will show a considerable loss to their purchasers, as the market has gone back about 1/ a bushel since they were bought. The necessity of taking the oats out of the stores may cause a further weakening in the market, unless the holders can arrange for other storage to enable them to carry the oats over to next season." It is understood that these forward purchases have not been made by Auckland merchants, but that extensive orders were given by Wellington firms. Chaff remains unaltered at £9 5/ to £9 10/ per ton, ex store. Bran and Pollard. Both these lines are in plentiful supply at unchanged rates. Merchants report brisk business in the fertiliser department. The special rates offered for mid-summer months have had the effect of stimulating orders during that period. Full orders have now been taken for February and no more can be accepted at special rates, but December and January are still open. Wholesale Current Prices. Sharps and Bran.—Mill prices: Sharps, £9 10/ per ton; bran, £8 per ton. Merchants' quotations, ex store: Pollard, £10 5/; bran, £8 10/; oats, feed, B Gartons, 4/7, A Gartons, 4/11 per bushel; clipped Dunns, 5/9; clipped Gartons, 5/6; seed Algerians, 6/; fowl wheat, 7/8 per bushel; maize, new season, 6/6, ex store; Gisborne, 6/8; barley, feed, 5/9 per bushel; Cape barley, seed, 6/6 per bushel; maize meal, 14/ per 1001b; barley meal, 13/ per 1001b. Chaff.—G.b.o.s., £9 5/ to £9 10/ per ton, Blenheim or Canterbury. Potatoes.—Canterbury, £15 per ton. Seed Lines. —Arran Chief, Northern Star and Gamekeeper, 7/6 per cwt; Early Puritan and Dates, 9/. Onions.—Canadian, 35/ per crate.